Ye, a musician also known as Kanye West, is investing in Parler, a social media site that bills itself as a "free speech" substitute for Twitter.
In a press release announcing the acquisition, Parler stated that it had reached an agreement in principle with Ye, which was anticipated to close later this year.
“In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves,” said Ye in a press statement.
Parler’s parent company Parlement Technologies said the acquisition would help create “an uncancelable ecosystem where all voices are welcome.”
News of the acquisition comes a little over a week after Ye was locked out of first his Instagram account and then his Twitter account (the latter for posting an anti-Semitic tweet). “I’m a bit sleepy tonight but when I wake up I’m going death con 3 On JEWISH PEOPLE,” Ye wrote.